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Oscar Health beats Q3 revenue estimates, raises 2026 outlook

By Reuters News


Overview

  • US health insurer's Q3 revenue rose about 72%, beating analyst expectations

  • Company reported positive adjusted EBITDA compared to a loss a year ago

  • Company raised full-year 2026 revenue and earnings from operations outlook


Outlook

  • Oscar Health raises 2026 revenue outlook to $19.0 bln-$19.3 bln from $18.7 bln-$19.0 bln

  • Company now sees 2026 earnings from operations of $850 mln-$950 mln, up from $600 mln-$800 mln

  • Oscar Health expects 2026 medical loss ratio of 80.5%-81.5% versus prior 81.0%-82.0%


Result Drivers

  • RATE INCREASES AND MEMBERSHIP GROWTH - Co said Q3 revenue rose due to higher premium rates and increased membership

  • DISCIPLINED PRICING - Co attributed lower medical loss ratio to disciplined pricing strategy

  • EXPENSE MANAGEMENT - Co said lower SG&A expense ratio was due to greater fixed cost leverage and disciplined expense management


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$5.14 bln

$4.72 bln (10 Analysts)

Q3 Net Income

$167.28 mln

Q3 Adjusted EBITDA

$206.85 mln

Q3 Operating Expenses

$4.96 bln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the life & health insurance peer group is "buy."

  • Wall Street's median 12-month price target for Oscar Health, Inc. is $34.00, about 3.4% above its November 4 closing price of $35.19

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 24 three months ago


Reuters Recommended Reads

  • Nov 4 - MetLife's Q3 results beat estimates on volume growth, solid underwriting

  • Nov 4 - Health insurers, hospitals rally after sweeping midterm win for Democrats

  • Nov 4 - Clover Health Q3 revenue beats on increase in Medicare Advantage membership


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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